RLI (NYSE:RLI) Earns Outperform Rating from Analysts at Wolfe Research

Wolfe Research began coverage on shares of RLI (NYSE:RLI) in a research report issued on Wednesday, Briefing.com reports. The firm set an “outperform” rating and a $182.00 price target on the insurance provider’s stock. Wolfe Research’s price target suggests a potential upside of 19.67% from the company’s previous close.

A number of other equities research analysts also recently commented on RLI. JMP Securities reiterated a “market perform” rating on shares of RLI in a research report on Tuesday, July 23rd. Compass Point reduced their target price on RLI from $175.00 to $170.00 and set a “buy” rating for the company in a report on Wednesday, July 24th. Jefferies Financial Group dropped their price target on RLI from $170.00 to $165.00 and set a “buy” rating on the stock in a research note on Friday, June 14th. Keefe, Bruyette & Woods boosted their price objective on RLI from $169.00 to $175.00 and gave the stock an “outperform” rating in a report on Monday, July 29th. Finally, Royal Bank of Canada reiterated a “sector perform” rating and issued a $162.00 target price on shares of RLI in a report on Tuesday. Two research analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $170.80.

RLI Stock Up 0.1 %

NYSE:RLI opened at $152.09 on Wednesday. The business’s 50-day moving average price is $151.56 and its 200 day moving average price is $145.98. RLI has a 52-week low of $125.77 and a 52-week high of $160.47. The firm has a market cap of $6.95 billion, a P/E ratio of 21.01 and a beta of 0.41.

RLI (NYSE:RLI) last announced its quarterly earnings data on Monday, July 22nd. The insurance provider reported $1.72 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.35 by $0.37. RLI had a net margin of 20.78% and a return on equity of 18.33%. The company had revenue of $416.44 million for the quarter, compared to analysts’ expectations of $561.60 million. During the same quarter in the previous year, the company posted $1.16 EPS. The business’s revenue was up 9.1% compared to the same quarter last year. Sell-side analysts expect that RLI will post 6.14 EPS for the current year.

Institutional Investors Weigh In On RLI

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in RLI. UMB Bank n.a. increased its stake in shares of RLI by 620.0% in the third quarter. UMB Bank n.a. now owns 180 shares of the insurance provider’s stock worth $28,000 after acquiring an additional 155 shares during the last quarter. American National Bank purchased a new stake in shares of RLI during the 2nd quarter worth about $35,000. EverSource Wealth Advisors LLC lifted its holdings in shares of RLI by 45.6% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 246 shares of the insurance provider’s stock valued at $37,000 after buying an additional 77 shares during the last quarter. Riverview Trust Co acquired a new stake in shares of RLI during the 1st quarter valued at about $44,000. Finally, Intelligent Financial Strategies bought a new stake in shares of RLI in the 1st quarter valued at approximately $45,000. Hedge funds and other institutional investors own 77.89% of the company’s stock.

RLI Company Profile

RLI Corp., an insurance holding company, underwrites property and casualty insurance. Its Casualty segment provides commercial and personal coverage products; and general liability products, such as coverage for third-party liability of commercial insureds, including manufacturers, contractors, apartments, and mercantile.